Sasmi
SASMI is a Taft-Hartley multiemployer trust fund that administers income support, healthcare reimbursement, and ancillary benefits for active and retired SMART union sheet metal workers across the United States, funded entirely by employer contributions and delivered via member, local, and WEX-administered digital portals.
- Company typePrivate
- Founded1970
- HeadquartersFalls Church, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Sasmi does
SASMI is a Taft-Hartley multiemployer trust fund, established approximately in 1970 and headquartered in Falls Church, Virginia, that administers a portfolio of income-support, healthcare reimbursement, and ancillary benefits for sheet metal workers who are members of SMART (International Association of Sheet Metal, Air, Rail and Transportation) local unions. The organization operates two separate plans — one for active members and one for retirees — covering benefits that include unemployment/underemployment supplemental income, welfare payments to maintain health insurance coverage, an Active Plan Health Reimbursement Account (HRA) funded with 20% of employer contributions plus a matching component, a retiree Health Care Reimbursement Account (HCRA), travel, sick leave, maternity, annual physical, work boots, death, severance, and benevolent relief benefits. As a single national trust fund, SASMI follows members across different local unions and employers throughout their career and into retirement, a structural feature that individual employer-sponsored plans cannot replicate.
The technology layer consists of a multi-portal digital platform: a Member Portal (authenticated via Auth0) for self-service applications, balance checks, and document access; a Local Portal used by union representatives to certify eligibility and submit applications; a WEX-administered HCRA/HRA portal and branded Visa debit card system for healthcare expense reimbursement; iOS and Android mobile applications for filing claims, uploading receipts, and scanning item barcodes to verify eligibility; and an AI-powered chatbot branded as the SASMI Helper for natural-language inquiries. Operational reach spans at least nine identified local unions (5, 15, 54, 67, 85, 214, 399, 435) within the United States, with the trust governed by a Board of Trustees holding equal labor and management representation.
SASMI is funded entirely through employer contributions made pursuant to collective bargaining agreements with SMART local unions; it generates no traditional commercial revenue, has no parent corporation or subsidiaries, and is not publicly traded. Employer contributions accumulate over a member's working career and are deployed across active and retiree benefits, with the organization reporting payment of more than $50 million in benefits in calendar year 2022. The trust's HIPAA-governed data practices cover certain personal health information, and governance is exercised jointly by Labor Trustees and Management Trustees drawn from SMART locals and signatory employers.
Sasmi firmographics
Firmographics- Name
- Sasmi
- Legal name
- SASMI Trust Fund
- Website
- https://sasmi.org
- Company type
- Private
- Founded year
- 1970
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- SASMI is a Taft-Hartley multiemployer trust fund that administers income support, healthcare reimbursement, and ancillary benefits for active and retired SMART union sheet metal workers across the United States, funded entirely by employer contributions and delivered via member, local, and WEX-administered digital portals.
- Ownership category
- akta.pro rank
Sasmi industry classification
Industry- Product category
- Multiemployer Benefit Trust Administration
- NAICS
- Health and Welfare Funds (525120), Insurance and Employee Benefit Funds (5251)
- SIC
- Hospital & Medical Service Plans (6324), Accident & Health Insurance (6321)
- akta.pro primary industry
- Employee Benefit & Retirement Plan Trust Services (FSAAANAC)
- akta.pro secondary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
Keywords
Where Sasmi is headquartered
LocationHeadquarters
- HQ city
- Falls Church
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sasmi business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Employer Contributions: SASMI is entirely funded through employer contributions made on behalf of sheet metal workers. These contributions accumulate throughout a member's career and fund the various active and retiree benefits. The trust was established over 50 years ago and has always been employer-funded.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Annual Physical Benefit: $200 for member, $100 for spouse/dependents per calendar year, max $600 per family |
| Other | Annual | Active Plan HRA: 20% of employer contributions allocated annually plus 50-100% match |
| Other | Pay-as-you-go | Unemployment/Underemployment Benefit: Up to 190 hours times hourly wage rate per stabilization period |
| Other | Multi-year contract | Work Boots Benefit: Free Thorogood or Carolina boots (union-made, USA-made) every two years |
| Other | Pay-as-you-go | Maternity Benefit: 60% of average hourly wage multiplied by regular work hours, up to 12 weeks |
| Other | Pay-as-you-go | Travel Benefit: Up to $1,800 over three payment stages |
| Other | Pay-as-you-go | Active Death Benefit: $5,000-$50,000 based on years of Future Service Credit |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
Sasmi product offering
Product offeringCore offering
SASMI (Stabilization Agreement of the Sheet Metal Industry) Trust Fund administers benefit programs for eligible sheet metal workers and retirees covered under collective bargaining agreements with SMART local unions. It provides unemployment/underemployment income supplements, Active Plan HRA and retiree HCRA healthcare reimbursement accounts, welfare payments to maintain health insurance, travel, sick leave, maternity, annual physical, work boots, death, severance, and benevolent relief benefits. The trust is funded entirely through employer contributions pooled industry-wide and distributed through member portals, local union coordination, mobile applications, and a WEX-administered HCRA platform.
Product overview
SASMI (Stabilization Agreement of the Sheet Metal Industry) is a comprehensive trust fund providing benefits to sheet metal workers through two separate plans—one for active members and one for retirees—supported by multiple digital platforms. Active members access unemployment/underemployment, travel, welfare, sick leave, maternity, annual physical, and work boots benefits, plus an Active Plan HRA with employer-matched funding. Retirees receive HCRA for health expense reimbursement plus severance and death benefits. All services are administered via the Member Portal, Local Portal, and WEX HCRA Portal platforms. An AI-powered SASMI Helper chatbot assists members with inquiries.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Paid over $50 million in benefits in a single year (2022)
- +3 more outcomes
Companies that use Sasmi
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Sasmi technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability2 records
Feature4 records
Sasmi partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- WEX HealthcoreWEX Health is the HCRA vendor partner that administers SASMI's Health Care Reimbursement Account and Active Plan HRA. WEX provides debit card processing for HCRA/HRA expenses, processes claims, manages the WEX member portal, and offers mobile applications for iOS and Android. Members receive SASMI-branded Visa debit cards from WEX for eligible healthcare expenses.
- The Union Boot ProcoreThe Union Boot Pro is the approved vendor for SASMI's Work Boots Benefit. Members who qualify receive credits to select from SASMI-approved Thorogood or Carolina brand work boots (both USA-made, union-made). Shipping, returns, and exchanges are free. No sales tax except in Wisconsin.
- SMART (International Association of Sheet Metal, Air, Rail and Transportation Workers)coreSMART is the international union that represents sheet metal workers. SASMI was established through collective bargaining agreements with SMART and its local unions. The union network provides the structure through which members access benefits, local unions certify eligibility, and the International Job Bank enables travel benefits.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
Sasmi competitors and assessment
Company assessmentDirect peers
- BAC International Pension Fund: Bricklayers and Allied Craftworkers' national multiemployer Taft-Hartley benefit fund pooling employer contributions to deliver health, pension, and welfare benefits. A trade-specific multiemployer trust structurally identical to SASMI's single-trade pooling model.
- United Association National Pension Fund (Plumbers & Pipe Fitters): United Association plumbers' and pipe fitters' multiemployer Taft-Hartley benefit fund delivering pooled health, pension, and welfare benefits across UA locals. Highly comparable trade-based trust structure to SASMI, differing only in craft (mechanical trades vs. sheet metal).
- National Electrical Benefit Fund (NEBF): The structural mirror of SASMI: a national multiemployer Taft-Hartley benefit trust fund for IBEW/NECA electrical workers, pooling employer contributions across local unions to deliver welfare and retirement benefits. Same fund-based delivery model, same joint labor-management governance, but for a different trade.
- United Brotherhood of Carpenters National Funds: Carpenters' national multiemployer Taft-Hartley benefit funds pooling employer contributions to deliver welfare and pension benefits across UBC locals. Construction-trade multiemployer trust model directly comparable to SASMI's structure and governance approach.
- Operating Engineers' Central Pension Fund (IUOE): International Union of Operating Engineers' central Taft-Hartley pension and benefit fund pooling contributions from heavy-equipment operators nationwide. Uses the same multiemployer trust architecture as SASMI, serving a different craft within construction.
- National Roofers Union & Employers Joint Health and Welfare Fund: Roofers' multiemployer Taft-Hartley health and welfare fund pooling employer contributions across affiliated local unions. Closely mirrors SASMI's welfare/income stabilization model with multi-trade applicability, but for roofing craft workers.
- Asbestos Workers National Pension Fund: Trade-specific multiemployer Taft-Hartley pension and welfare fund serving insulation/asbestos workers, mirroring SASMI's narrow single-trade scope and trust-fund pooling mechanism under joint labor-management governance.
- IUPAT Industry Pension Fund: International Union of Painters and Allied Trades' multiemployer Taft-Hartley benefit fund, pooling employer contributions across affiliated locals to deliver health, welfare, and pension benefits. Operates the same trust-based architecture as SASMI, serving the finishing trades instead of sheet metal.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Sasmi social profiles
Digital presenceSasmi compliance and trust
Trust signalCompliance1 record
Sasmi financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sasmi leadership team
Management profileNumber of profiles
Profiles9 records
Sasmi funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sasmi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sasmi
What does Sasmi do?
SASMI (Stabilization Agreement of the Sheet Metal Industry) Trust Fund administers benefit programs for eligible sheet metal workers and retirees covered under collective bargaining agreements with SMART local unions. It provides unemployment/underemployment income supplements, Active Plan HRA and retiree HCRA healthcare reimbursement accounts, welfare payments to maintain health insurance, travel, sick leave, maternity, annual physical, work boots, death, severance, and benevolent relief benefits. The trust is funded entirely through employer contributions pooled industry-wide and distributed through member portals, local union coordination, mobile applications, and a WEX-administered HCRA platform.
Is Sasmi a public or private company?
Sasmi is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Sasmi founded?
Sasmi was founded in 1970. It employs 1 to 10 people.
Where is Sasmi based?
Sasmi is headquartered in Falls Church, United States, in the North America region.
How does Sasmi make money?
One revenue line is on record: employer Contributions.
Who are Sasmi's main competitors?
Direct peers on record are BAC International Pension Fund, United Association National Pension Fund (Plumbers & Pipe Fitters), National Electrical Benefit Fund (NEBF), United Brotherhood of Carpenters National Funds, Operating Engineers' Central Pension Fund (IUOE), National Roofers Union & Employers Joint Health and Welfare Fund, Asbestos Workers National Pension Fund and IUPAT Industry Pension Fund.
Does Sasmi have an API?
No public API is recorded for Sasmi.
What industry is Sasmi in?
Sasmi's product category is Multiemployer Benefit Trust Administration. Its primary akta.pro industry code is FSAAANAC, Employee Benefit & Retirement Plan Trust Services, with a secondary code of HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA). Its NAICS code is 525120 and its SIC code is 6324.